Crypto assets that evolve from the development phase into the usage phase tend to follow similar valuation behavior. Most of the repricing occurs before full utility is live because markets assign value to future cash flow and activity before it becomes measurable. This is why early-stage cheap crypto have produced some of the most significant multipliers during past cycles. Analysts tracking this pattern believe a new altcoin under $1 may be entering the transition window now.
Why Timing Matters for Price Models
Mutuum Finance (MUTM) is developing a decentralized lending protocol that will allow users to supply and borrow crypto assets through smart contracts. Suppliers will earn yield and receive mtTokens that represent their position. Borrowers will post collateral and pay interest to unlock liquidity without selling long-term holdings. This model is common inside DeFi lending markets because it gives traders access to capital while keeping exposure to their assets.
MUTM is no longer in the conceptual stage. The project has moved through its development roadmap and announced that the V1 protocol is preparing for testnet deployment before mainnet activation. This places MUTM inside the pre-utility valuation window. In past cycles, this stage has marked the beginning of price discovery because the market begins to price in coming activity rather than theoretical expectations.
The presale structure has reinforced this transition. The token began at a much lower price during the early phases and has advanced to $0.04 in Phase 7. This shift represents over 300% growth since the start of the presale. Participation has expanded as well. More than 18,700 holders have taken positions during this period and more than $19.8 million has been raised.
First Price Scenario
Supply mechanics play a central role in early-stage price discovery. The total supply of MUTM is 4 billion tokens. Out of that supply, 45.5% is reserved for the presale distribution. That equals roughly 1.82 billion tokens. Over 825 million tokens have already been purchased across completed allocations.
Each phase carries a fixed supply and a fixed price. When a phase fills, price advances. This creates a natural stair-step effect that pushes valuation upward without secondary market activity.
As Phase 7 continues to fill, analysts believe the supply-driven model may push MUTM toward its launch price of $0.06. From the current level of $0.04, that implies a 50% rise based on structured pricing alone. This is the first scenario and it does not require speculation or utility.
Second Price Scenario
The second valuation scenario involves participation once V1 is active. According to the official X account, V1 is preparing for testnet deployment before Q1 2026. Once the system is live, borrowing volume, lending flows, mtToken growth, interest payments, and liquidation events begin to appear on-chain. These metrics become valuation signals for DeFi lending assets.
Industry analysts model MUTM between $0.25 and $0.35 during the early utility window if borrowing demand scales and stablecoin lending gains traction. At the current presale price of $0.04, that range implies up to a 700% increase under favorable post-launch conditions. This follows similar valuation logic seen during early lending market rollouts in previous cycles.
Third Price Scenario
The third scenario centers on revenue recycling. A portion of protocol fees will be used to buy MUTM on the open market once V1 is live. Purchased tokens are redistributed to users who stake mtTokens inside the safety module. This creates buy pressure tied directly to usage. The more borrowers pay to access liquidity, the more organic demand cycles through the token.
Analysts describe this as a feedback loop. It pulls tokens from the market rather than depending on attention or hype. Tokens with fee recycling have seen higher floors over time due to constant buy pressure. Under this model, longer-term projections place MUTM between $0.60 and $0.80 by late 2027 if lending activity matures and revenue recycling becomes consistent. From the $0.04 presale level, that projects more than 400% upside on a multi-year horizon.
Why This Setup Resembles DeFi Lending Breakouts
The setup resembles the early phase patterns seen in previous lending protocols. Those assets went through a sequence of build, test, usage, revenue, and repricing. Mutuum Finance appears to be operating at the end of the build phase and entering the testnet-to-mainnet window. This window has produced strong performers in the past because markets reward infrastructure that moves from code to activity.
As long as V1 activates as planned, and if stablecoin borrowing gains adoption, Mutuum Finance may join the list of top crypto assets priced by usage rather than speculation. The coming cycle will show whether the token transitions into that category or remains in its pre-utility state.
For more information about Mutuum Finance (MUTM) visit the links below:
Website: https://www.mutuum.com
Linktree: https://linktr.ee/mutuumfinance
